Bangladesh Bank (BB) has unveiled an expansionary monetary policy to revive the struggling economy of Bangladesh and focused on achieving 8.2% GDP growth in the current fiscal year.
In the new monetary program, the central bank increased the target of private sector’s credit growth to 14.8% for the current fiscal year while an actual growth of 8.6% was achieved in the concluding fiscal year. The policy was unveiled on Wednesday and it projected a 44.4% credit growth in the public sector.
Each year the BB announces its monetary policy statement through a press conference. However, this year the BB unveiled the statement on its website due to the Covid-19 pandemic.